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shows just how the intrinsic current value & prospects of INDV are viewed by IIs. Once digested/understood by the market SP will re-continue its advance North.

GGP shares to buy at less than 17p! What an opportunity for LTHs to load up.

Not many trading days before update. This together with the sale announced today has acted as a catalyst to the SP. SP still ridiculously cheap (£4 at time of writing).

"Our strategy to focus on the large and growing opportunity in organized health systems (OHS) has seen us deliver five consecutive quarters of double-digit underlying net revenue growth for Sublocade, providing us strong momentum as we look forward to 2022."
Crossley’s above statement in the 3rd Quarter Report last week is a key insight into INDV’s plans to drive sales. SUBLOCADE is the major product currently with SUBOXONE still maintaining v good sales despite generic competition. Major new initiatives include alcohol misuse drugs and a new treatment for cannabis-related disorders.
What do the 3rd Q figures indicate in terms of the prospective SP?
Looking at the 5 year price chart the SP peaked in early 2018 at £4.90. This was despite major concerns relating to the strength of the patents protecting SUBOXONE against generics and the looming threat of possible legal action by DoJ both of which became major issues. INDV has weathered these storms and has maintained (extended) its position as the market leader in providing products for opioid dependency with the introduction of SUBLOCADE and has widened its remit to include other chronic ailments (marijuana & alcohol abuse, schizophrenia).
Based on forecast figures for YE (due in Jan/Feb 2022) of approx. £180m earnings with shares in issue of approx. 710m (after share buy-backs) giving Eps £0.2535 and a multiple of 25 (average sector multiple is high teens, my view is that a higher rating is applicable to INDV due to its position in the market & growth potential) gives a price of £6.33. Net cash is about £600m which translates into £0.84 / share.
Given the above and Burford’s recent analysis & comment "last week's surge above the major trendline (barely visible on the monthly chart) could start a major rally phase with my first target at the £7 region." I am inclined to agree that £7 a share is now a reasonable target SP. Potential predator activity by big PHARMA also gives an added dimension as does the possible addition of another $100m share buy-back scheme to bolt onto the end of the current scheme which should be approx. when the y/e figures are released in Jan/Feb 2022.
Obviously DYOR etc

and this will continue until get nearer to the results when a sustained run-up will take place. Good time at current SP to build a holding and if already in just need to wait or add.

IMHO before run-up to Trading Update in November. Current SP (circa £3.55) is a great opportunity.

mythyaar-it is a "no-brainer" to continue adding given the potential increase in SP if you have the funds available and the relative %'age of INDV to your overall portfolio is in balance. AWAK there are no 100% certainties in investment but INDV presents an excellent opportunity given the mauling that it received from the DoJ over the 2-3 year period which kept its SP very low & shrouded the enormous potential that this company has to offer. During that period the company continued to progress, develop their strategy & secure important new opportunities. They are now targeting the OHS (Organised Health Systems) and given their position as market leader in a growing market the potential to increase sales & profits very significantly over the coming years is huge. The target is to grow SUBLOCADE alone to >$1 billion in sales. INDV will also be increasingly getting on the radar of IIs as well as PIs and current SP (£2.45 as I write) is still well under its "true" value. My current target SP is £6+ but in the light of up-graded 3Q results I am re-calculating.
All IMHO, no investment advice, DYOR etc

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My previous SP target of £6 will need to be revised based on these results & with the increased guidance.
Mythyaar-Im a LTH in INDV and already hold a v substantial position. I have not added today although this SP is still v cheap & obviously v attractive. In the coming weeks as INDV moves further away from the DoJ issue & as new IIs arrive & existing IIs increase their holdings & with the share buy-backs continuing through to Y/E in early 2022 the SP will continue to gather momentum. New products in the pipeline targeting marijuana & alcohol dependency just makes this market leader such a special company. There is also the take-over potential. I personally hope that there is no big PHARMA interest just yet to give the SP chance to get somewhere near a "fair" value ie £6+.

These results firmly put INDV on high alert for predatory activity from big PHARMA seeking a take-over at what is a bargain basement SP. INDV's position as market leader in a high growth sector will be attracting interest.

Sublocade sales +86%, cash balance > $1 billion, total net revenue +23%, YTD 2021 reported operating profit was $168m

"We are pleased to report another quarter of good growth and further strengthening of our leadership in addiction treatment. Based on the strong commercial execution behind SUBLOCADE® (buprenorphine extended-release) injection and the resilience of our legacy US film business, we have again raised our 2021 net revenue expectations for the overall Group and for SUBLOCADE. Our strategy to focus on the large and growing opportunity in organized health systems (OHS) has seen us deliver five consecutive quarters of double-digit(1) underlying net revenue growth for SUBLOCADE, providing us strong momentum as we look forward to 2022."

YTD / Q3 2021 Financial Highlights

· YTD 2021 total net revenue (NR) of $568m increased 23% (YTD 2020: $462m); Q3 2021 total NR of $187m increased 18% (Q3 2020: $159m). The strong increase in both periods was primarily driven by higher NR from SUBLOCADE (+86% vs. YTD 2020, +97% vs. Q3 2020), continued growth in the buprenorphine medication-assisted treatment (BMAT) market, and by market share stability for SUBOXONE® (buprenorphine and naloxone) Film in the US.

· YTD 2021 reported operating profit was $168m (YTD 2020 operating loss: $147m); Q3 2021 reported operating profit of $38m increased 111% (Q3 2020: $18m). On an adjusted basis, YTD 2021 operating profit was $155m (Adj. YTD 2020: $56m). Adj. Q3 2021 operating profit of $38m increased 27% (Adj. Q3 2020: $30m). The substantial improvement in adjusted operating profit in both periods was primarily driven by strong net revenue growth.

· YTD 2021 reported net income was $169m (YTD 2020 net loss: $135m); Q3 2021 reported net income was $27m (Q3 2020 net income: $10m). On an adjusted basis, YTD 2021 net income was $114m (Adj. YTD 2020 net income: $33m). Adj. Q3 2021 net income was $27m (Adj. Q3 2020: $19m). The significant increases in adjusted net income in both periods were primarily driven by higher operating profit, partially offset by increased net finance expense.

· YTD 2021 ending cash balance was $1,005m (FY 2020: $858m); net cash was $756m (FY 2020: $623m). Higher operating profit, relatively stable government rebate payables and proceeds from the sale of the legacy TEMGESIC®/ BUPREX® / BUPREXX® (buprenorphine) analgesic franchise outside of North America was offset by cash used to repurchase ordinary shares as part of the Group's $100m share repurchase program.

First of all, excellent results given all the backdrop. The capital raise is is about so much more than having the funds to pay the SFO fine. This is ensuring that PFC has the funds available to take full advantage of the enormous contract opportunities that are obviously coming their way. It also rewards LTHs. I will be taking up my entitlement in full. Its a no-brainer. My £8 SP target will have to be revised upwards.

The Sunday Times's Sabah Meddings tipped shares of Indivior to readers arguing that the drugmaker appeared to have completed its journey to redemption.

Two years after being charged with engaging in an "illicit nationwide scheme to increase prescriptions", the company was branching out into alcohol misuse drugs and had invested in a new treatment for cannabis-related disorders.

It was also successfully growing sales of its treatment for opioid addiction, Sublocade.

Hence, the shares' near 120% recovery year-to-date, she said.

Yet that remains at nearly only half the level at which they had been trading in 2018, before being struck with generic competition and a US indictment.

She also noted that its former finance chief, Mark Crossley, had taken over as chief executive officer in June,

That was on top of the appointment of Cindy Cetani, formerly of Novartis, as the company's chief integrity and compliance officer.

In a bid to rebuild confidence, it had also named four new board members.

Finally, the company wanted to reach sales of over $1bn with Sublocade and was planning to invest heavily in marketing Sublocade, including on a sales force to sell into the criminal justice system.

"Buy."

3rd quarter results on Thursday 28th October. SP finishing strong today as the run-up begins.

Some mention made of PFC being a takeover target. Has to be a strong possibility given the depressed (very cheap) SP currently. Personally I would very much prefer that the company remains independent because the upside is so much greater. I am sure that the risk of takeover will not have been lost on the BoD and they will be looking at all ways of bolstering the SP particularly when releasing the half year accounts in the near future. Either way in the short-term its a win:win on the SP and going forward as an independent a big win.

This is my target price over a 2 year period which is well within the capability of PFC (SP was £10 in 2016). This is a quality company (as evidenced by the tie-up with Gazprom) that has been damaged by 4 years of SFO investigation. Now that has been concluded the only way is up after this period of shorts getting out and waiting for the half year results/contract win news. It is a very strong buy at current SP and if the SP is driven down further then an even better opportunity to increase holdings.

As expected making very good progress as approaches the 9 monthly results to be reported on 28th October. Still massively under-valued assuming continued increased market share for SUBLOCADE. Share buy-backs to continue until Jan/Feb 2022 coinciding with full year results. I've previously commented that a SP of £6+ would be more reflective of a "true" market value but takes time for the market to wake up to the potential that INDV offers. Trend is your friend & the trend is North as INDV re-rates.

Still 4 more months of buy-backs and 3rd quarter results due this month (October). SP at £2.16 still grossly under-stating the true value of INDV.

I totally agree with Burford's article (snippet below but the whole article well worth reading) who makes some very interesting points in his article. Oil and gas (not to mention coal) are still very important commodities. The deal with SFO is perfect timing for PFC to get back on track with all the projects that will be being initiated.
"If so, then last week's surge above the major trendline (barely visible on the monthly chart) could start a major rally phase with my first target at the £7 region."